Dana Gas PJSC · ADX:DANA
Dana Gas PJSC — FY2021 Earnings Presentation
17 slides from Dana Gas PJSC's earnings presentation, Feb 9, 2022
Slide 1: Clean Energy for the Future: FY 2021 Financial Results
Clean Energy for the Future FY 2021 –Financial Results 9 February 2022 1
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements which may be identified by their use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “estimates” or other words of similar meaning. All statements that address expectations or projections abo
Slide 3: Contents
Contents 1 Highlights 2 Operational Update 3 Financial Update 4 Summary 3
Slide 4: 1. Highlights
1. Highlights 4
Slide 5: Snapshot – FY 2021
Snapshot – FY 2021 Operations Financials Group operations continued uninterrupted Net Profit $317mm versus $376mm loss FY20 2021 average production 62,100 boepd • Profit includes other income and impairments • KRI production up 5% to 33,800 boepd • Net profit on like-for-like basis excluding o
Slide 6: 2. Operation Update
2. Operation Update 6
Slide 7: Production (boepd) & Realized Prices (USD/boe)
Production (boepd) & Realized Prices ( USD/boe) Average production FY 2020 vs FY 2021 Average production Q4 2020 vs Q4 2021 FY 2020 63,600 Q4 2020 63,200 62,100 59,000 FY 2021 Q4 20202 33,250 33,300 32,250 33,800 29,700 30,300 28,300 25,700 650 0 650 0 Group Egypt KRI EBGDCO Group Egypt KRI EBGDCO F
Slide 8: Egypt Update
Egypt Update Operations Produced 28,300 boepd in 2021 (136 MMscf of gas; 3,335bbl/d of condensate and 204 MTPD of LPG) Completed drilling and workover campaign on 5 wells Successful shutdown of El-Wastani plant to perform internal inspections, testing and certification, modifications, and upgr
Slide 9: KRI: Energising the country
KRI: Energising the country Ambitious programme to increase daily production to 900 MMscf gas and 35,000 bbl NGL Operations Operations continued as normal despite COVID 5% increase in FY 2021 net production averaging 33,800 boepd (DG share) Produced 420 MMscf of gas; 14,850 bbl/d of condensate
Slide 10: Arbitration Update
Arbitration Update UAE Gas Project At the end of Q3, the Company received an update from Crescent Petroleum regarding the issuance of the final award for damages in the first arbitration against NIOC which was initiated in 2009, pursuant to which a merit liability award on liability was already ma
Slide 11: 3. Financial Update
3. Financial Update 11
Slide 12: Financial Highlights
Financial Highlights Gross Revenue ($mm) Gross Profit and EBITDA ($mm) 500 452 2020 2021 2020 2021 300 269 400 349 195 300 200 146 200 86 90 118 100 87 49 100 35 32 0 0 FY Q4 FY EBITDA FY Gross Profit Q4 EBITDA Q4 Gross Profit Adjusted Net Profit ($mm) Net Profit ($mm) Item $mm 317 300 2020 2021 200
Slide 13: CAPEX & OPEX
CAPEX & OPEX G&A / OPEX ($mm) CAPEX ($m) G&A OPEX G&A/boe ($/boe) Opex/boe ($/boe) 2.6 2.4 2.3 2.4 2.3 2.1 2.1 56 54 55 234 52 55 60 52 1.0 122 127 126 0.7 0.6 106 0.6 0.5 0.5 0.5 23 56 13 15 16 15 47 12 11 2015 2016 2017 2018 2019 2020 2021 2015 2016 2017 2018 2019 2020 2021 G&A / OPEX CAPEX Comp
Slide 14: Cash Flow, Liquidity & Receivables
Cash Flow, Liquidity & Receivables Year-end cash of $185 vs. $109m FY 2020; Debt and Cash Balance (mm$) • $172mm dividend payment in 2021 • $67mm of cash currently held at Pearl Petroleum 1000 871 897 930 920 861 856 815 803 748 723 800 Group’s total borrowings stands at $199m 600 414 456 185 co
Slide 15: 4. Summary
4. Summary
Slide 16: Summary
Summary Strong and resilient operational performance in 2021 • Operations uninterrupted despite difficulty of working through the pandemic • Achieved record gas and LPG output in Khor Mor field • Sustainable revenues through gas sales under long-term contracts with host governments • 256% increase
Slide 17: Reach Us: Dana Gas PJSC
Reach Us: Dana Gas PJSC P. O. Box 2011, Sharjah, UAE www.danagas.com E-mail : [email protected] Direct : +971 6 519 4401